Uzbekistan Update: October 15 - 31, 2025
Biweekly update on key developments in Uzbekistan
Table of contents of this Uzbek.Review report for paid subscribers & members:
1. INTERNATIONAL COOPERATION
1.1 EUROPE
1.2 CENTRAL ASIA, CAUCASUS & CIS
1.3 RUSSIA & CHINA
1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA
1.5 MIDDLE EAST
1.6 NORTH & SOUTH AMERICA
1.7 INTERNATIONAL ORGANIZATIONS
2. PUBLIC POLICY
3. LEGISLATION & GOVERNMENT
3.1 LEGISLATIVE CHANGES
3.2 NOTABLE APPOIAPPOINTMENTS
4. ECONOMY
4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE
4.2 IFI’s, BAKNING & FINANCE
4.3 AGRICULTURE, MINING, & MANUFACTURING
4.4 CONSTRUCTION & REAL ESTATE
4.5 TRADE AND BUSINESS
4.6 ENERGY & PETROCHEMICALS
5. USEFUL LINKS AND NOTABLE PUBLICATIONS
UPCOMING EUROUZ & MEMBER EVENTS
November 12, 2025 44th Meeting of the Berlin Eurasian Club
This year, the Berlin Eurasian Club meeting will focus on the topic of “Middle Corridor and Global Gateway.” The Middle Corridor, an important trade route, is becoming increasingly strategic. Kazakhstan plays a central role in this transcontinental connection and offers a solid and efficient transit hub. The growing partnership with the European Union and Germany, characterized by increased investment and cooperation in the areas of transport and green energy, underscores Kazakhstan’s central position in improving connectivity and economic relations between East and West.
Please register by November 7, 2025, using the code BEK1025
November 13, 2025 Banks of the Future Conference
EUROUZ in partnership with ASEE and PLATMA is pleased to announce the upcoming Banks of the Future Conference — a premier platform to explore how technology, innovation, and digital ecosystems are transforming the banking sector in Uzbekistan and beyond.
Register to attend
EUROUZ Human Resources & Capacity Building Committee invites you to the Expert Seminar: Well-being at Work: Practical Strategies for Uzbekistan’s Changing Business Landscape. As Uzbekistan’s economy evolves, employee well-being is becoming a key factor of competitiveness and long-term growth. Join EUROUZ members and HR leaders to explore practical approaches that help organisations create healthier, more resilient, and productive workplaces.
Register here
November 20, 2025 Istanbul as a Hub: Practical Insights for Business Growth in the CIS
Join industry experts to explore current market trends, risks and opportunities. The program will offer a special focus on Central Asia alongside broader perspectives on the CIS region, tailored for international companies.
20 November | 09:00-13:00 (GMT+3) | Istanbul
Register to attend
November 26, 2025 The 3rd EU–Central Asia Economic Forum
As a key platform for EU–Central Asia cooperation under the EU’s Global Gateway, the Forum will bring together senior representatives from the EU, Central Asian governments, the private sector, and international organisations to strengthen economic partnerships for shared prosperity and sustainable growth.
Register to the forum
Register to the evening reception
November 29 - December 1, 2025 Swiss Days in Uzbekistan 2025
Swiss and Lichtenstein SMEs exploring opportunities in Uzbekistan and in Central Asia are invited to join in driving Swiss innovation into the heart of Uzbekistan — a fast-emerging market with immense untapped potential.
The events of Swiss Days in Uzbekistan will potentially help the participating companies in positioning and strengthening visibility in highly competitive market.
Register (Swiss & Lichtenstein businesses only). A registration for international companies and for Uzbekistan companies will be separately organized by EUROUZ.
2-3 June, 2026 GITEX Central Asia & Caucasus 2026
We’re proud to announce that the EUROUZ will serve as an Ecosystem Partner of GITEX Central Asia & Caucasus 2026, taking place on 2–3 June 2026 in Astana. The event will unite leading tech innovators, investors, and policymakers shaping the future of digital transformation across Central Asia and the Caucasus. From AI and fintech to green technologies, GITEX CAC is set to become the region’s most influential platform for innovation and collaboration.
Pre-register here
EUROUZ & MEMBER NEWS
On October 23, 2025 EUROUZ hosted the flagship “Uzbekistan Economic Day in Europe” forum in Brussels. The event brought together leading European and Uzbek business representatives on the eve of President Shavkat Mirziyoyev’s official visit to Brussels and was held in cooperation with the Ministry of Investment, Industry and Trade of Uzbekistan.
EUROUZ extends its deepest appreciation to the sponsors whose support made this event possible: European Investment Bank, Wallonia Export and Investment Agency (AWEX), EastCham Finland, SUEZ, IT Park Uzbekistan, VEON, Lawday, and WR Group.
Photos to the event
EUROUZ member, Eastcham Finland organized the Finnish–Uzbek Business Forum
The Finnish–Uzbek Business Forum, held on 31 October 2025, marked a major milestone in strengthening trade, investment, and industrial cooperation between Finland and Uzbekistan. Organized by EastCham Finland, the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, and supported by EUROUZ, the Forum was attended by H.E. Alexander Stubb, President of the Republic of Finland, and Jamshid Khodjaev, Deputy Prime Minister of the Republic of Uzbekistan alongside senior government officials, leading Uzbek companies, and a high-level Finnish business delegation representing sectors such as green technologies, energy, mining, digital innovation, and sustainable infrastructure.
EUROUZ welcomes new member - The National Media Association of Uzbekistan (NMAU)
The National Media Association of Uzbekistan (NMAU), established in 2003 in Tashkent, is a non-governmental, non-profit organization that unites the country’s leading mass media outlets. The Association focuses on developing the media industry, supporting its members, promoting freedom of speech, and implementing educational, PR, and marketing initiatives. It also contributes to shaping Uzbekistan’s information policy and fostering the growth of a modern, open media environment.
EUROUZ welcomes new member – Lexminster
Lexminster is a business-oriented law firm delivering innovative legal solutions and pragmatic advice tailored to the complex needs of clients. With a deep understanding of both legal frameworks and business management, they combine top-tier legal expertise with commercial insight to provide actionable recommendations that create real value.
EUROUZ welcomes new member – GBSB Global
GBSB Global Business School is a fully accredited institution of higher education with campuses in Barcelona and Madrid (Spain), Birkirkara (Malta), and online. The School offers programs from Foundation to Ph.D., all taught in English, designed to bridge academic excellence with real-world innovation. Curricula emphasize digital transformation, sustainability, ethics, and entrepreneurial leadership—reflecting GBSB Global’s mission to educate future-ready leaders capable of driving positive change.
EUROUZ welcomes new member - Silk Road Group Projects (SRGP)
Silk Road Group Projects LLC (SRGP) is a private investment company founded in 2018. Today SRGP ranks among the leading investors in Uzbekistan and successfully implements a wide range of projects across various industries. The company actively collaborates with investors and organizations, offering reliable solutions for capital growth. SRGP follows modern trends, embraces innovative approaches, and places a strong emphasis on efficiency and high-quality project execution.
EUROUZ welcomes new member – SavvY
SavvY is a dynamic and specialized business advisory firm that empowers organizations to discover new opportunities and deliver impactful, sustainable solutions.
EUROUZ welcomes new member - InterContinental Tashkent
InterContinental Tashkent, officially opened on March 8, 2023, is a flagship luxury hotel located in the very heart of Uzbekistan’s capital. Operating within the premium hospitality segment, it offers world-class accommodation, fine dining, spa and wellness services, and advanced facilities for business tourism and MICE events.
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
Tashkent and Brussels Elevate Strategic Partnership with EU
At the European Council headquarters in Brussels, Shavkat Mirziyoyev met with António Costa and Ursula von der Leyen to discuss cooperation between Uzbekistan and the European Union. They signed an Enhanced Partnership and Cooperation Agreement and agreed to implement projects worth over €10 billion across energy, critical minerals, logistics, textiles, and pharmaceuticals. The pact broadens the legal framework for bilateral cooperation and opens up trade, investment, transport, energy and technology links. The parties plan to progress on visa-facilitation and joint project implementation in 2026.
Uzbekistan and Serbia Boost Cooperation with First Joint Commission
Uzbekistan hosted Aleksandar Vučić of Serbia for high-level talks in Tashkent, during which they committed to elevate bilateral ties and prepare a comprehensive cooperation programme spanning engineering, pharmaceuticals, IT, agro-industry and tourism. They underscored plans for new transport corridors between Central Asia and the Balkans, including the Trans-Caspian corridor. An intergovernmental commission meeting in Tashkent was scheduled for next year to formalise collaboration. Preparations are underway for the first meeting of this commission in early 2026.
Uzbekistan and Slovakia Agree to Expand Strategic Partnership
At a meeting in Samarkand during the UNESCO General Conference, President Mirziyoyev and Peter Pellegrini of Slovakia reviewed bilateral strategic partnership and noted that business ties, political consultations, and joint ventures have been accelerating. The two sides agreed to increase trade and investment, boost industrial cooperation in sectors such as textiles, auto components and pharmaceuticals, and explore joint cybersecurity and cargo-tracking centres. This alignment supports Uzbekistan’s industrial diversification and Slovakia’s participation in Central Asian markets. They resolved to hold business forums and establish trade houses to facilitate this cooperation by 2026.
Uzbekistan and Finland Agree Joint Projects Worth €1B+
In Tashkent, President Mirziyoyev and Alexander Stubb of Finland reviewed multifaceted cooperation in political, economic, investment and humanitarian spheres. A business forum held alongside their meeting resulted in a portfolio of joint projects valued at over €1 billion. They also discussed launching a joint trade-finance fund to boost mutual supplies and opening certification laboratories for Uzbek agro-textile exports to EU markets. Further steps include the next intergovernmental commission session in 2026 and creation of a business council.
Uzbekistan and Serbia to Establish Joint IT Enterprise and Venture Fund
The IT Park Uzbekistan and Serbian counterparts agreed to establish a joint IT enterprise in Serbia focused on deploying the Palm ID system and build a joint venture fund of about US $1 million to finance Uzbek startups entering European markets and Serbian projects exploring Central Asia. Uzbekistan pledged to provide server infrastructure and engineering support, while Serbia committed to facilitating deployment and European market expansion. The first round of fund deployment is expected in early 2026.
Uzbekistan and UK Strengthen Green Investment and Financial Cooperation
Uzbekistan’s Deputy Minister of Investment and Foreign Trade met with senior representatives of British financial institutions to deepen cooperation in green and infrastructure finance. The sides discussed developing joint projects in renewable energy, water management, and industrial modernization. London investors expressed interest in co-financing public-private initiatives aligned with Uzbekistan’s 2030 Development Strategy. A joint working group will outline project priorities and financing terms by early 2026.
Uzbekistan and Germany Expand Economic and Technological Partnership
Deputy Foreign Minister Bobur Usmanov met with Bundestag member Stephan Mayer in Tashkent to advance political and economic dialogue. The parties emphasized increasing German private investment in Uzbekistan’s industrial, energy, and logistics sectors. They agreed to enhance cooperation in education, vocational training, and digitalization to strengthen bilateral innovation capacity. This dialogue aligns with Uzbekistan’s strategy to attract high-tech partners and diversify exports to the EU. A joint roadmap for cooperation through 2027 is currently under preparation.
Uzbekistan and Italy Launch Pilot Program for Medical Specialists
Uzbekistan’s Ministry of Employment and Italy’s healthcare institutions launched a pilot program to send Uzbek medical specialists to work in Italian hospitals. The first group of ten doctors will be trained and employed in Milan, with plans to expand the scheme to 3,500 professionals over five years. The program ensures participants receive EU-standard training and certification, enhancing skill development and remittance inflows. This initiative supports Uzbekistan’s policy to expand legal overseas employment opportunities for qualified workers. Full-scale implementation is expected to begin in 2026 following the pilot’s evaluation.
1.2 CENTRAL ASIA, CAUCASUS & CIS
CIS Security Chiefs Convene in Samarkand for 57th Meeting
Heads of security and intelligence agencies from nine CIS countries will gather in Samarkand on October 16–17 to discuss counter-terrorism, cybersecurity, and regional stability. The 57th meeting of the CIS Security Council will include participation from the CIS Anti-Terrorism Center and focus on coordination of joint security measures. The event underscores Uzbekistan’s growing role in regional defense cooperation. Outcomes are expected to include strengthened intelligence sharing and joint operational initiatives starting later this year.
China–Kyrgyzstan–Uzbekistan Corridor Expands Central Asian Freight Links
China, Kyrgyzstan, Uzbekistan, and Turkmenistan have launched a new multimodal transport corridor connecting Xi’an to the Caspian Sea via Central Asia. The route combines rail and road segments, with the first cargo expected in Uzbekistan by late October. It aims to enhance trade efficiency, diversify logistics routes, and strengthen Uzbekistan’s role as a regional transit hub. Officials project growing freight capacity and expanded operations under the Belt and Road framework by the end of 2025.
Uzbekistan, Kyrgyzstan, Tajikistan Ratify Tri-Border Agreement
Uzbekistan’s parliament has ratified a treaty with Kyrgyzstan and Tajikistan defining their shared tri-border point. Initially signed in Khujand on March 31 by Presidents Mirziyoyev, Japarov, and Rahmon, the accord formalizes state boundaries and promotes regional trust. The agreement is expected to support cross-border trade and infrastructure projects while reinforcing stability in the Fergana Valley. Following Senate approval, implementation of joint development initiatives along the border is set to begin in early 2026.
1.3 RUSSIA & CHINA
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